Ethereum co-founder Vitalik Buterin and other members of the crypto community like John Deaton, a strong supporter of Ripplecriticized Michael Saylor for his comments on altcoins.
Following the leak of a Youtube video, where Michael Saylor, the CEO of Microstrategy, made some comments about altcoins, the founders of crypto projects and other members of the community expressed their disapproval.
First, he implied almost anything but #BTC is a security.
Second, he literally said:
“all legitimate talents work in the #Bitcoins ecosystem ”
and
“If you are honest, ethical and competent, you will rely on the Lightning Network ⚡️.”
— John E Deaton (209,000 followers, beware of imposters) (@JohnEDeaton1) July 31, 2022
During the interview session, Michael Saylor argued that all cryptocurrencies except Bitcoin (BTC) are securities, devoid of strong ethics. In particular, the Bitcoin maximalist claimed that Ethereum (ETH) is immoralciting that his genesis violated securities laws.
Related: MicroStrategy CEO Michael Saylor Explains Why He Believes Ethereum (ETH) Is Security
Moreover, he says, “All legitimate talent works in the Bitcoin ecosystem, and if you’re honest, ethical, and knowledgeable, you’ll rely on the Lightning Network.”
Vitalik Buterin and John Deaton respond
These comments from the CEO of Microstrategy elicited several reactions from the entire crypto community. Apparently Microstrategy owns the biggest bitcoin volume as a business, with over 129,000 BTC on its balance sheet.
While some say Michael Saylor is entitled to his opinions, Ethereum co-founder and John Deaton, the attorney representing XRP holders in the ongoing Ripple-SEC lawsuit showed their disagreements.
Read also : SEC wants to stop legal support of attorney John E. Deaton and other XRP holders in Ripple-SEC lawsuit
Why do maximalists keep choosing heroes who turn out to be real clowns? https://t.co/lVhEVbfBbD
— vitalik.eth (@VitalikButerin) July 31, 2022
In response to his attack on ETH, Vitalik Buterin indirectly called it a ‘completely clown’, in a recent tweet. On the other hand, John Deton noted that Saylor’s understanding of what makes a digital asset “safe” is deeply flawed and his ethical comments absurd.
Saylor is basically saying that if you are aware of the law, you will rely ONLY on #Bitcoins b/c the rest of the shitcoins are securities.
Saylor’s analysis of what constitutes a title is deeply flawed – which is quite surprising, given his intelligence.
— John E Deaton (209,000 followers, beware of imposters) (@JohnEDeaton1) July 31, 2022
Last month, Saylor also claimed that the Cardano (ADA) token has secure status. Therefore, Charles Hoskinson, the founder of Cardano denied the claimsnoting that Saylor’s huge BTC defense is due to the huge Financial commitment to Bitcoin.
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